THE world has certainly changed when two friends, one from the United States and one from Britain, suddenly sent me an email to ask what I thought of People’s Bank of China Governor Zhou Xiaochuan’s call for a global currency.
Of course, the blogspace amongst financial specialists went into a hyper-frenzy of analysis whether the US dollar was in decline, but my friends are not finance people – one a doctor, the other a retiree. Ordinary people were clearly concerned. I could not answer immediately because I had to first read Governor Zhou’s paper carefully.
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